RATE Group | DeFi continues strong growth – Why is the price of Ethereum stagnating?
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DeFi continues strong growth – Why is the price of Ethereum stagnating?

28 Jan DeFi continues strong growth – Why is the price of Ethereum stagnating?

Posted at 17:01h in Ethereum News by

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  • Although the market for decentralised financial applications (DeFi) on Ethereum continues to grow strongly, the price of Ethereum has not risen in recent weeks and months.
  • At the time of writing, more than USD 800 million are included in Ethereum based DeFi applications.

According to many industry experts, the DeFi market offers enormous potential. Already last year, the amount of Ethereum “locked up” in DeFi applications has increased significantly. The volume is currently well over 800 million USD. Nevertheless, ETH’s price does not (yet) benefit from this. Longhash has investigated why the Ethereum price has not increased at the same rate as the DeFi market.

Ethereum price stagnates despite growth of DeFi

Despite the fact that the DeFi market is largely dominated by Ethereum, there has been no positive effect on the ETH price. The second largest cryptocurrency by market capital is still more than 88 percent below its all-time high of USD 1,448. Even in comparison with…

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